Most of the thermal power in Pakistan is produced using Natural Gas so the Government is basically asking the people to either have less load shedding or cheap fuel.
I disgree that the petroleum imports will increase significantly because as it is, even with subsides, most middle class people can not afford petrol. If anything, it will bring the demand of small cars lower and wise people will be investing in more comfortable/efficienct public transportation area.
Basically, the Government is looking for quick fix soluton so they dont have to deal with the real problem in this term. This has to be the worst bunch to ever have control of Pakistan, their modus operandi is worst than the mafia.